MCB profit increases to Rs 6.8 billion : vimarsana.com

MCB profit increases to Rs 6.8 billion


Daily Times
April 21, 2021
The Board of Directors of MCB Bank Limited (MCB) in itsmeeting under the Chairmanship of Mian Mohammad Mansha, on April 20, 2021reviewed the performance of the Bank and approved the condensed interim financial statements for the first quarter ended March 31, 2021. The Board of Directors has declared first interim cash dividend of Rs. 4.5 per share, continuing with its highest dividend payout trend.
During the period under review, MCB continued with its strategic focus on generating sustainable stakeholder value, while proactively monitoring the resurgence in COVID-19 outbreak and its potential ramifications on the macroeconomic and operating environment.
MCB’s unconsolidated Profit After Tax (PAT) for the three month period ended March 31, 2021 increased to Rs. 6.79 billion; translating into an Earning Per Share (EPS) of Rs. 5.73 against an EPS of Rs. 5.50 in corresponding period last year. Net Interest income reported at Rs. 15.24 billion with a drop of 6.5% on account of decreased earning margins due to the expansionary monetary policy regime adopted by the State Bank of Pakistan to combat the downside risks emanating from COVID-19 outbreak.

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